Tech Stocks 2020: Top 7 to Invest InJune 29, 2020 No Comments
If you are researching your options of stocks to purchase next, tech stocks would be a fairly good choice to invest your money in. The tech stocks have proved that they can withstand different changes to the market conditions because people have become so dependent on it. Even during a pandemic and an economic shock, tech companies have faired well – as technology becomes a necessary utility for modern living.
However, the tech sector is vast with many choices. There are a variety of factors to consider when choosing your next investment in the tech sector. We have put together a list of the top tech stocks that have been showing a lot of prospects and will be worth the purchase.
1. Reestablishing the Importance of Amazon
Even during the current situation in 2020, Amazon.com has seen growth. One of the biggest reasons why Amazon.com is thriving in even the toughest conditions is because it has managed to meet an important demand of all buyers and sellers – access to the buying process right from home during a lockdown.
This company has managed to bring many buyers and sellers together with fast delivery services. Furthermore, in an age where people are more hesitant to go to shops themselves for more reasons than one, Amazon.com seemed like the perfect solution to this problem.
There are no lines, no masks, no disinfection, and no added pressure of social distancing, when a buyer is browsing Amazon instead of a brick and mortar store. You can see why Amazon will be one of the best tech stocks.
2. Adobe, the Dream for Creative Projects
If you are not aware, Adobe is the mastermind of many of our go-to software for creative projects such as Photoshop and Illustrator. The reason why Adobe has become such a staple of the modern generation is that many people have started using their skills in Adobe software in their jobs.
Adobe’s sales have been increasing each year by 15% to 20% – which is a testament to the surge for the demand for this type of software.
However, the problem with stock markets is that information is always changing because they are susceptible to changes in situations. That is why you should always check out reviews from blogs such as StocksReviewed blog to get up to date information on the current stock market trends.
3. Dropbox Shows Promise for Stockholders
Dropbox, with a market value of $7.4 billion shows a lot of promise for stockholders.
Even though Dropbox has competition, they still have a lot of prospects to grow because of their cloud storage facilities. It is a fact that many companies are now opting for cloud services, which is why Dropbox’s services are so important.
Many businesses can now forego the huge costs of huge data servers and in-house support needed, and instead, opt for Dropbox to store their information.
Another reason why Dropbox shows so much promise is because its year over year revenue has shown growth from its previous 18% to the current 19%. Moreover, the Dropbox users have also shown to be spending an average of $123.15 which is better than its previous figure by 4%.
4. PayPal is Growing
It is unlikely that you have not heard of PayPal because of its established presence and rising popularity. PayPal is an online payment system that makes virtual payments possible and easy for people.
As people have started preferring the convenience of online transactions, it is no surprise that PayPal is performing well. PayPal is predicted to grow in 2021 by an average of an astounding 15% – this despite the economic shock of the pandemic.
5. LivePerson Helping Online Businesses
If you are interested in or run an online business, then you probably have heard of LivePerson. LivePerson is a small company that uses AI to provide businesses with smart chatbots for their websites.
The reason why LivePerson has been growing is because of the sudden increase in demand for online services. More businesses have shifted online and have invested in tools to help the online experience, which includes smart chatbots.
However, that does not mean that LivePerson is just a fad. The use of conversational commerce tools is expected to gain huge traction as more businesses transition to e-commerce in the future.
6. Snap is Resilient
Despite the odds of the pandemic, Snap, the owner of Snapchat has shown its resilience in the stock market. It was believed that ad spending would drop drastically as consumer spending is also supposed to be low in such a situation.
However, to the contrary, Snap maintained its already impressive growth streak. Even in the midst of a pandemic lockdown, Snap was able to sustain over 20% revenue growth in March and around 15% revenue growth in April.
If you are not aware of what Snapchat is, it is an online social media platform based on picture sharing. It is one of the apps people are relying on amongst the current situation, to stay connected with their loved ones.
Furthermore, the app uses augmented reality in its filters and they were one of the first ones to popularize it.
Even though people predicted that sites like Snap would suffer as any other site would in a time of uncertainty, Snap has risen against the odds and continued to grow.
This shows how even if uncertain situations can slow down any business, they cannot entirely halt and bring down companies such as Snap. That is why, as a stockholder, having stocks in Snap is a pretty good choice.
7. Pinterest is a Good Choice for Stockholders
If you are iffy about whether to spend on Pinterest, a good reason why you should invest on Pinterest is that it shows promise for the long term.
Many businesses that are making quarantine easier might sound nice now, but when life goes back to normal, some of those businesses might suffer because they have already served their purpose.
Pinterest cannot be replaced, neither can its importance be ignored. The reason why it would be hard for people to forget about this site is that it is a unique social media site that keeps people up to date about current trends.
To add to this, it can also directly bring willing buyers and sellers together. This gives Pinterest a huge advantage when it comes to revenue from businesses wanting to advertise their services on Pinterest.
Even though the current pandemic lockdown has pushed people to embrace technology and online services like never before, that is not the only reason why it is a great idea to invest in tech stocks right now.
It is because technology is the future of the way of living and will transfer how we interact and consume in the future. This is why tech stocks are predicted to soar in the future – making them perfect for investors.
About the Author
Stepheny is a content writer at FeedFond. She’s a loving mother to her two children and is passionate about psychology and philosophy. She is also a foodie at heart, she loves channeling her inner Nigella Lawson and coming up with delicious dishes. Read more of her articles at FeedFond.com
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